Bank of Marin Bancorp (NASDAQ:BMRC) Stock Rating Reaffirmed as Buy by DA Davidson

Bank of Marin Bancorp (NASDAQ:BMRC)‘s stock had its “buy” rating reiterated by investment analysts at DA Davidson in a note issued to investors on Tuesday, Benzinga reports. They currently have a $34.00 price target on the bank’s stock. DA Davidson‘s price objective indicates a potential upside of 19.68% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Stephens set a $30.00 price objective on shares of Bank of Marin Bancorp and gave the company an “equal weight” rating in a report on Wednesday, July 29th. Zacks Research upgraded shares of Bank of Marin Bancorp from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Keefe, Bruyette & Woods raised their price target on shares of Bank of Marin Bancorp from $31.00 to $32.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Piper Sandler restated a “neutral” rating and issued a $29.00 price target (down from $30.00) on shares of Bank of Marin Bancorp in a research note on Thursday, October 1st. Finally, Brean Capital lowered Bank of Marin Bancorp from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research report on Tuesday, July 28th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $31.33.

Bank of Marin Bancorp Trading Up 2.2%

NASDAQ BMRC traded up $0.61 during trading on Tuesday, hitting $28.41. The stock had a trading volume of 27,564 shares, compared to its average volume of 127,310. The company has a market capitalization of $460.07 million, a PE ratio of -31.15 and a beta of 0.82. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average price of $27.26 and a 200 day moving average price of $26.74. Bank of Marin Bancorp has a twelve month low of $23.35 and a twelve month high of $30.92.

Bank of Marin Bancorp (NASDAQ:BMRC) last issued its quarterly earnings results on Monday, October 26th. The bank reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $35.07 million for the quarter, compared to analyst estimates of $35.11 million. Bank of Marin Bancorp had a negative net margin of 7.98% and a positive return on equity of 8.51%. As a group, equities research analysts forecast that Bank of Marin Bancorp will post 2.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Lodestar Private Asset Management LLC raised its position in shares of Bank of Marin Bancorp by 8.4% during the 3rd quarter. Lodestar Private Asset Management LLC now owns 11,005 shares of the bank’s stock worth $298,000 after acquiring an additional 849 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Bank of Marin Bancorp by 109.8% during the second quarter. Squarepoint Ops LLC now owns 32,763 shares of the bank’s stock worth $908,000 after purchasing an additional 17,143 shares during the last quarter. United Capital Financial Advisors LLC purchased a new stake in Bank of Marin Bancorp during the second quarter worth approximately $960,000. Bank of America Corp DE acquired a new position in Bank of Marin Bancorp in the second quarter valued at approximately $678,000. Finally, Legal & General Group Plc acquired a new position in Bank of Marin Bancorp in the second quarter valued at approximately $43,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Bank of Marin Bancorp

Here are the key news stories impacting Bank of Marin Bancorp this week:

• Positive Sentiment: Q3 earnings beat expectations: Bank of Marin reported third-quarter EPS of $0.62, up from $0.47 a year earlier and above the $0.57 consensus estimate. Net income was approximately $9.9 million. Bank of Marin Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Potential margin tailwinds: Management outlined an approximately 25-basis-point monthly benefit to loan yields over the next year, which could support net interest income and profitability as loan repricing flows through. Bank of Marin outlines loan-yield benefit
• Positive Sentiment: Dividend maintained: The bank declared a quarterly cash dividend of $0.25 per share, payable November 12 to shareholders of record November 5. The annualized $1.00 payout represents a stated yield of about 3.6%, supporting the stock’s income appeal. Bank of Marin declares quarterly cash dividend
• Neutral Sentiment: Revenue was essentially in line: Quarterly revenue totaled $35.07 million versus the $35.11 million estimate, a minor shortfall that partly offsets the EPS outperformance.
• Neutral Sentiment: Credit metrics remain in focus: Bank of Marin separately reported third-quarter net charge-offs. Investors will monitor the disclosure for evidence of deterioration in loan quality, although the available report details do not quantify the impact. Bank of Marin reports third-quarter net charge-offs
• Neutral Sentiment: Short-interest data: Reported short interest was zero shares as of October 26, indicating little evidence of short-covering activity as a catalyst.

About Bank of Marin Bancorp

Bank of Marin Bancorp is the holding company for Bank of Marin, a community bank headquartered in Novato, California. The bank provides financial services to individuals, families, professionals, nonprofit organizations and businesses, with a focus on relationship-based commercial banking.

Its products and services include business and personal checking and savings accounts, commercial and residential real estate loans, construction and commercial lending, small-business loans, consumer credit, cash-management services, online and mobile banking, and wealth management and trust services.